If Resources Are to Be Considered in Planning, It Is

question 15

Multiple Choice

If resources are to be considered in planning, it is necessary to

• A) when each is taking vacation time or time off.
• B) know the name of each resource on the project.
• C) list all the projects to which the resources have been assigned.
• D) indicate the amounts and types of resources needed to perform each activity.

---

Definitions:

Deadweight Loss

The reduction in total societal welfare resulting from market inefficiencies, typically due to taxes, subsidies, or monopolies.

Market Output

The total quantity of goods or services produced and offered for sale in a particular market.

Barriers To Entry

Obstacles that make it difficult for new competitors to enter a market, such as high startup costs or stringent regulations.

Natural Monopoly

A market condition where a single firm can supply a good or service to an entire market at a lower cost than two or more firms, due to economies of scale.